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Soybean futures trimmed daily declines, but still posted sharp losses for the week. March soybean futures matched support at the November low of $13.56 today, but closed above it. Bears clearly hold the near-term advantage on a technical basis. Slipping below the November lows early next week would open additional near-term downside risk. Traders, however, could cover short positions as they prepare for USDA's January reports on Friday.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.